Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers G > Headlines for Grupo Petrotemex SA de CV > News item |
Fitch drops Petrotemex to junk
Fitch Ratings said it downgraded Grupo Petrotemex, SA de CV's local- and foreign-currency issuer default rating to BB+ from BBB-, $75 million privately placed senior notes due 2012 to BB+ from BBB- and DAK Americas $115 million guaranteed senior notes due 2014 to BB+ from BBB-.
The outlook remains negative.
Fitch said the downgrade was due to an increase in the company's leverage as a result of large losses on its derivative contracts.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.